Bamidele Salam, the legislator representing Ede North, Ede South, Egbedore and Ejigbo Federal Constituency in the House of Representatives, has decried the continuous fall of the value of Naira against dollar.
Salam, in an interview on Tuesday in Abuja decried the continuous devaluation of the Naira, saying that the Nigerian currency was doing badly when compared to other currencies of the world.
As at the time of filing the report, a dollar was valued at N567 in the parallel market while the official price was N410 to a dollar.
The lawmaker said that the CBN should do something urgent about the situation to save the players in the Nigerian economy.
“Though the value of the naira is a function of many things, it appears to me that there is a deliberate policy of the CBN to devalue the naira consistently.
“This is very worrisome because of its effect on trade, investment and on consumption of goods and services both locally and those imported which depend on raw materials.
“Are we saying that the Ghanaian economy, the Sierra Leonean economy, the Nigerian economy is doing better than the Nigerian economy? The Niger currency is doing better in the international market than the naira in the last six months.